Page 599 - AI for Good Innovate for Impact

AI for Good Innovate for Impact

The FATCA/CRS system leverages a range of key technologies and APIs to ensure secure,
seamless, and standards-compliant operations:

• UAE PASS is integrated for secure, passwordless user authentication, ensuring that only
authorized users can access sensitive data and system functionalities [3]. 4.6: Finance
• IDES (International Data Exchange Service), developed by the U.S. IRS, is used for the
secure electronic transmission of FATCA data, enabling compliance with international
reporting obligations.
• CTS (Common Transmission System), developed by the OECD, ensures the efficient and
secure exchange of CRS data with partner jurisdictions [4].
• Advanced Data Validation mechanisms are embedded within the system to ensure the
accuracy of critical identifiers such as Global Intermediary Identification Numbers (GIINs)
and Tax Identification Numbers (TINs), minimizing reporting errors and enhancing data
quality.

As part of the UAE Ministry of Finance’s broader digital transformation efforts, the official MoF
website now includes an AI-powered conversational assistant to support users with inquiries
related to the FATCA/CRS system. This feature, developed under the Zero Bureaucracy
initiative, provides real-time guidance and improves user experience, aligning with the UAE’s
vision for smart government services.

Impact and Benefits
• Improved tax transparency and prevention of tax evasion by both individuals and
entities[1][2].
• Strengthened international collaboration through successful data exchange with over 80
jurisdictions [3].
• Enhanced compliance with global tax regulations and reporting standards.
• Maintained confidentiality and security of financial data in accordance with OECD and
IRS XML protocols.
• Strengthened the capacity of the Ministry of Finance (MoF) and Regulatory Authorities
(RAs) to effectively implement and oversee FATCA/CRS obligations.
• Reinforced the UAE’s reputation as a committed and responsible member of the OECD
Global Forum and the IRS international network.

2�2 Benefits of the use case

Decent Work and Economic Growth

Promote development-oriented policies that support productive activities, decent job creation,
entrepreneurship, and encourage the formalization and growth of micro-, small- and medium-
sized enterprises.

Link to Project: By improving tax transparency and reducing illicit financial flows, the FATCA/
CRS project helps create a fairer economic environment that supports sustainable growth.
Transparent financial systems build investor confidence, encourage entrepreneurship, and
ensure that revenues are available for economic and social development, contributing to
inclusive employment and economic opportunity.

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